Salary cap set at $58.7 million for 2013-14 season

NEW YORK — The NBA has set next season’s salary cap at $58.7 million, paving the way for contracts to be signed starting Wednesday.

The tax level is $71.7 million, with harsher penalties starting this season for teams that exceed it. Teams formerly paid $1 for every $1 they were over, but the penalties now start at $1.50 for teams up to $4.9 million over, with increases from there.

Contracts such as the one Dwight Howard agreed to with the Rockets couldn’t be signed during the league’s moratorium period while the cap was calculated.

The cap is a slight increase from this season’s $58 million.

The mid-level exception for non-taxpayers is $5.15 million. It’s $3.2 million for teams over the tax, and there’s a mid-level worth $2.7 million for teams with room under the salary cap.

Photo: Joe Robbins / Getty Images

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Lamar Odom
Los Angeles Clippers
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Lamar Odom
Los Angeles Clippers
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Antawn Jamison
Los Angeles Lakers
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Antawn Jamison
Los Angeles Lakers
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Stephen Jackson
San Antonio Spurs
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Stephen Jackson
San Antonio Spurs
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Daniel Gibson
Cleveland Cavaliers
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Daniel Gibson
Cleveland Cavaliers
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Jason Collins
Washington Wizards
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Jason Collins
Washington Wizards
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Leandro Barbosa
Washington Wizards (did not play with team due to injury)
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Leandro Barbosa
Washington Wizards (did not play with team due to injury)
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